The department says it has placed its final order for penny blanks, and production will end when they run out, which will likely be early 2026, according to The Wall Street Journal, which first reported on the decision.

The US Treasury Department has placed its last-ever order to mint new pennies, officially ending the creation of the one-cent coin.

After over 200 years, the United States government plans to stop making new pennies, the Treasury Department told the Wall Street Journal.

The Treasury says there are about 114 billion pennies currently in circulation in the United States — that’s $1.14 billion — but they're greatly underutilized.

The Treasury Department said it placed its final order for penny blanks this month as the U.S. moves to end production of the 1-cent coin. The Treasury Department said it placed its final order for penny blanks this month as the U.S. moves to end production of the 1-cent coin. The Treasury Department said it placed its final order for penny blanks this month as the U.S. moves to end production of the 1-cent coin. The Treasury Department said it placed its final order for penny blanks this month as the U.S. moves to end production of the 1-cent coin. Corey O'Connor's victory is a crushing blow to Mayor Ed Gainey and his progressive backers who swept him into office four years ago as the city's first Black mayor. KDKA-TV's Andy Sheehan looks at reasons for the mayor's defeat in a race that drew national attention and money. We're just a few days away from what's usually considered a huge weekend for car sales. But with impending tariffs and low supply, should consumers wait? Boaz was live with a Memorial Day preview honoring those we should never forget. He checked out a moving tribute to Pennsylvania's fallen heroes.

Eliminating the penny is expected to save $56 million a year, according to the Treasury spokesperson. “There are about 114 billion pennies currently in circulation in the U.S., but they are severely underutilized,” the spokesperson said.

Treasury Secretary Scott Bessent claimed Friday that the United States can ‘retool’ the nickel following an announcement that the Treasury Department will cease all penny production by early 2026. “I think we can retool the nickel and change the composition of the alloys so that a nickel is worth a nickel,